Wednesday's Internet Edition, August 27, 2008.
relief to family budgets
HOPE for Kids event same weekend
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| CENTRAL PERK- The Hamilton Chamber of Commerce held a ribbon cutting Monday morning to welcome Central Perk as its newest member. The recently opened restaurant is located on South Rice Avenue. Behind the sign in the above picture are business owners, Mark and Blanca Sepolio. Mayor Pro Tem Helen Townsend is holding the ceremonial scissors as chamber members and friends look on. Staff Photo |
Combs announced that the 10th annual sales tax holiday will take place Aug. 15-17. During the tax holiday week-end, most clothing and shoes priced less than $100 can be purchased tax free. The tax break applies to both children’s and adult apparel.
“We estimate shoppers will save about $54 million in sales tax during the sales tax holiday, including approximately $42.1 million in state sales tax and $11.9 million in local sales taxes,” Combs said.
The shoppers’ gain is not expected to have a significant impact on sales tax collections.
“Though the national econ-omy has slowed, Texas sales tax revenue continues to grow at a healthy pace,” Combs said. “Through June, state sales tax collections for fiscal 2008 were up 6.1 percent compared to the same point in fiscal 2007. Cit-ies’ and counties’ calendar year-to-date sales tax revenues were up an average of 5.1 per-cent.”
A list of items that will be tax exempt during the sales tax holiday is available on the Comptroller’s web site at http://www.window.state.tx.us/taxinfo/taxpubs/tx98_ 490/tx98_ 490.html.
Combs reminds families that elementary and secondary school backpacks and messen-ger bags costing less than $100 are now included in the sales tax holiday. For these purposes, a backpack is defined as a pack with straps one wears on the back. The exemption does not include items that are reasona-bly defined as luggage, brief-cases, athletic/duffle/gym bags, computer bags, purses or framed backpacks.
Combs added that school supplies are taxable; however, Hamilton elementary parents won’t have to worry about that because the HOPE for Kids Back to School event will be held that same weekend, Satur-day, Aug. 16, from 9 a.m. until 1 p.m. in the Ann Whitney Ele-mentary School cafetorium.
At the event, school sup-plies, including backpacks, will be provided for students from preschool through fifth grade free of charge. A $5 donation per family is requested but not required. These funds will pro-vide supplies for students en-rolling later in the year.
Since 1999, the clothing sales tax holiday has saved shoppers more than $388 mil-lion in state and local sales taxes.
Lay-away plans can be used again this year to take advan-tage of the sales tax holiday.
The tax-free weekend could save shoppers about $8 on every $100 they spend.